Ex.8. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

1. … were called in to inspect the accounts.

2. An accountant did a year-end … of our financial records.

3. … firm audited the company every year.

4. … are not employees of the organization whose books they examine.

5. The tax inspector wants to examine ….

6. Many companies employ their own accountants to maintain ….

7. … are a normal and regular part of business practice.

8. Auditors review … and report to the management on the current state of the company’s … in the form of an Auditor’s Report.

9. An accountant did … of the company’s financial health.

10. The numbers in the report are ….

accurate; an evaluation; fiscal affairs; financial records; outside audits; an internal audit; the books; independent accountants; the accounting; audit; the auditors.

 

Ex.9. Fill in the missing prepositions:

An auditor is an accountant, independent … a company, who is appointed … the shareholders to ensure that the annual accounts give a true and fair view … the state … affairs … the company. The accounts should be prepared using the accepted methods … accountancy. Auditors will also try to ensure that the organization’s accounting systems do not allow any fraud or stealing to occur … the company’s funds. Large organizations might carry … an internal audit themselves to ensure that their accounting practices and procedures are accurate and efficient.

(of (5), by, from, out)

Exercises in Comprehension

 

Ex.1. Answer the following questions:

1. What is auditing?

2. Who carries out audits? Who are usually the clients?

3. What is an internal audit?

4. What do the internal auditors review?

5. What suggestions do the internal auditors make to management?

6. What is an independent audit? Who conducts most independent audits?

7. What do the independent auditors review?

8. What does the external auditor ensure?